While this may be the prevalent model in the U.S., in my view this approach is far too simplistic. It tends to suggest that the founders of the business have given no real thought to what they may ultimately want the firm to look like, and how compensation needs be structured in order to attract the best possible talent through every stage without overpaying. Is the business a lifestyle business or are you trying to create something of value and building towards an exit? The disciplines around compensation, profit drop through, and costs will all be different depending on the goal of the business. Owners of staffing firms have to think about why the best recruiter is going to join their company – and why the current top performer is going to stay.
1. Have a clear decision making process. If you don’t have a good critical thinking process in place, you may be reluctant to make important decisions. You don’t have confidence in your methodology so you look for more data, ask more people, and do more analysis. A good thinking process will help you know when you have enough information to move forward. In order to make a good decision you need to gather information
Productive employees are the lifeblood of every recruiting business, but how do you assess their performance levels? Do they understand your goals and expectations? Are they meeting their personal objectives?
Every company should continually monitor and evaluate their employees; here are seven easy ways to quickly gauge performance and ensure your firm is on the right track:
Corporate hiring technical recruiters or sourcers with agency background experience has always been a trend. Why is this? What are the skills that agency recruiters and sourcers have that make them appealing to leaders of corporate staffing teams?
If you do work on the agency side, but want to break into corporate, what do you have to do? Do you possess the skills that will make you marketable to a staffing team on the corporate side?
Just because you work at an agency doesn’t guarantee that you are instantly awesome. You still have to be good at your job. Here are some of the skills needed to cross over to the other side. And why corporate staffing managers should pay attention:
Note: This is the seventh and final article in a series on decreasing turnover and increasing profits. In the previous articles Terry discussed turnover (High Turnover Is NOT Just Part of the Business), who to hire (What It Takes to Attract and Hire Recruiting Winners), setting expectations (Your Onboarding Should Not Be Like A Box of Chocolates), training standards (When You Set Standards and Manage to Them, Everyone Knows Where They Stand), performance based training (Performance Base Your Training For Early Success), and understanding motivation to better inspire and lead a team (Improve Commitment by Understanding the Personal Nature of Motivation).
In our series of seven articles, we have addressed the issues related to decreasing staff turnover and increasing profits. Since the series first appeared (it first began in our monthly print newsletter, The Fordyce Letter in Aug 2013), I have received hundreds of calls and emails from readers wanting to learn more about the principles and concepts presented in these articles. Based on these calls and at the request of many of you, I will attempt to summarize the key elements.
Note: This is the sixth article in a series on decreasing turnover and increasing profits. In the previous articles Terry discussed turnover (High Turnover Is NOT Just Part of the Business), who to hire (What It Takes to Attract and Hire Recruiting Winners), setting expectations, training (Your Onboarding Should Not Be Like A Box of Chocolates), standards (When You Set Standards and Manage to Them, Everyone Knows Where They Stand), and performance based training (Performance Base Your Training For Early Success).
Decreasing turnover and increasing profits are a result of attracting, hiring, training, and retaining a productive staff that can effectively work together. However, an important factor that contributes to this is your understanding of the nature of personal motivation. This understanding is critical to achieving a realistic picture of your personal operating/management style, and it is equally important in determining “who” to hire, and “how” to train and manage them once they are on board with your firm.
Personal motivation is just that, it is personal. Therefore, in order to understand it, you must understand the person. As a starting point consider the findings of a longitudinal study by the National Science Foundation. This study concluded that:
The key to having employees who are both satisfied and productive is motivation, that is, arousing and maintaining the will to work effectively, having employees who are effective not because they are coerced but because they are committed.
Note: This is the fifth article in a series on decreasing turnover and increasing profits. In the previous four articles Terry discussed turnover (High Turnover Is NOT Just Part of the Business), who to hire (What It Takes to Attract and Hire Recruiting Winners), setting expectations, training (Your Onboarding Should Not Be Like A Box of Chocolates), and standards (When You Set Standards and Manage to Them, Everyone Knows Where They Stand).
Are we confident because we are competent or are we competent because we are confident? Regardless of the answer, in order to be successful an individual must be both confident in their approach to, and competent in their application of the basic concepts and fundamentals of this business. Getting to that point and beyond is the objective of Performance Based Training.
How important is training in determining whether or not an individual will be successful in this business? Next to hiring the right people it may be the most important factor.
Note: This is the fourth article in a series on decreasing turnover and increasing profits. In the previous three articles Terry discussed turnover (High Turnover Is NOT Just Part of the Business), who to hire (What It Takes to Attract and Hire Recruiting Winners), and setting expectations and training (Your Onboarding Should Not Be Like A Box of Chocolates).
Fast-Paced! Volatile! High Risk! High Return! Competitive! Sophisticated! Pressurized! Stressful! Demanding! Exhilarating!
These are some of the terms used by managers to describe our business. However, as with most adjectives, these terms are subjective and can mean different things to different people. That is where performance standards come into the picture.
In our previous two articles (Part one: “High Turnover Is NOT Just Part of the Business“; Part two: “What It Takes to Attract and Hire Recruiting Winners“) we discussed whom to hire and how to attract them to your organization.
In this article, we will focus on one of the most overlooked functions of the selection process, that of establishing realistic expectations for the employment relationship.
If realistic expectations are not established between you and your new employee a state of mutual mystification will result whereby neither of you will have a clear understanding of what to expect from the other. To begin the employment relationship in a state of mutual mystification is analogous to Forrest Gump’s comments about the box of chocolates, “You never know what you’re gonna get.” This can lead to fear, confusion, anxiety, and frustration on the part of your new employee, which can produce a lack of commitment and effort. Without the proper commitment and effort, failure is assured and turnover will result.
Editor’s note: Today, Terry Petra begins a seven part series on recruiting’s most challenging job: recruiting, training, and retaining high performing recruiters. This series first appeared in our monthly newsletter, The Fordyce Letter. Each Thursday look for the next installment of Terry’s series, HIRING RIGHT.
Based on the tremendous response from readers regarding my previous article on hiring top performers (“Why Can’t I Do A Better Job of Hiring?”), I will be doing a series of articles on this most important topic.
This article diagnoses the problem and subsequent articles will offer suggested solutions.
Most everyone would agree that the most important factor in determining the long-term level of profitability for your firm is your ability to attract, hire, train, maintain and retain consistent producers. However, many owners and managers believe that having high turnover of recruiters and professional staff is just part of the business. They cite such industry-wide myths as: